FINRA has censured Morgan Stanley and fined it $1.5 million for allegedly failing to provide millions of customers access to online information on purchases of mutual funds and other products.
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FINRA has censured Morgan Stanley and fined it $1.5 million for allegedly failing to provide millions of customers access to online information on purchases of mutual funds and other products.
A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)
insurers.
According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.
The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.